ICE Canada Morning Comment: Canola lower to start new week

Declines in comparable oils weigh on Canadian oilseed

By Glen Hallick

Glacier Farm Media | MarketsFarm – Intercontinental Exchange canola futures ere pulling back on Monday morning, due to pressure from comparable oils.

Declines in Chicago soybeans and oil, along with losses in European rapeseed and Malaysian palm oil weigh on canola values. A slight downturn in crude oil kept the vegetable oils lower.

Although the need for rain on the Prairies continued to increase, the region’s canola remains in fairly good shape.

While the November canola contract was a little below its 20- and 50-day moving averages it remained well above its other technical levels.

Read Also

ICE Midday: Canola rises to end downturn

Glacier FarmMedia | MarketsFarm — Canola futures on the Intercontinental Exchange rebounded from recent losses in the middle of Wednesday…

Agriculture and Agri-Food Canada is expected to issue its July supply and demand report this week, perhaps as early as Monday. AAFC’s canola data will include Statistics Canada’s revised canola production figure of 19.2 million tonnes in 2024/25.

The Canadian dollar edged a little higher on Monday morning, with the loonie at 72.95 U.S. cents compared to Friday’s close of 72.89.

Approximately 12,400 contracts were traded by 8:38 CDT and prices in Canadian dollars per metric tonne were:

                          Price      Change

Canola            Nov     690.30     dn 10.00

                  Jan     700.00     dn  9.50

                  Mar     706.50     dn 10.30

	
                  May     713.90     dn  8.00

To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/

explore

Stories from our other publications